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Cathay Pacific Airways (HKG:293) Shareholder Returns Have Been Favorable, Earning 32% in 3 Years
Cathay Pacific Shares Rise on Plans to Repurchase $866 Million Worth of Bonds
UBS Group: Given a 'buy' rating on Cathay Pacific Airways (00293), with a target price of HKD 10.8.
ubs group expects a positive market reaction to cathay pac air's proposed repurchase of convertible bonds.
Express News | Shares of Cathay Pacific Set to Open up 13.2%
Cathay Pacific Airways plans to repurchase the secured convertible bonds due in 2026.
Cathay Pacific Airlines (00293) announced that on November 14, 2024, the company's wholly-owned subsidiary Cathay Pacific Finance III Limited (issuer) and the company entered into a trading agent agreement with the joint transaction agent. According to this, the joint transaction agent has been appointed for repurchase, to assist the issuer in collecting intentions from bondholders willing to sell to the issuer some or all of their existing bonds. As of the date of this announcement, the issuer has received commitments from bondholders to sell a principal amount of 60 to the issuer through the joint transaction agent.
Cathay Pacific Airways (00293.HK) proposes to repurchase HKD 6.74 billion 2.75% guaranteed convertible bonds due in 2026.
Cathay Pac Air (00293.HK) announced a proposal to repurchase 6.74 billion Hong Kong dollars of 2.75% guaranteed convertible bonds due in 2026. Pursuant to clause 8(e) of the terms and conditions of the bonds (purchase), the issuer, the company, or any subsidiary of the issuer or the company may at any time purchase the bonds on the open market or in any other way at any price. The issuer now intends to repurchase the outstanding bonds according to the terms.
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